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04.08.2003 Regional News

Rural Bank initiates programme for business people

By GNA
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Agona-Swedru (C/R), Aug. 4, GNA - The Akyempem Rural Bank in the Central Regional has initiated special financial assistance programme to help petty traders, artisans, transport operators and small-scale farmers to promote their businesses to enable them cater for their children's education.

Under the scheme being supported by the government through the Social Investment Fund (SIF), and Village Infrastructure Project (VIP), managers of the various branches of the bank have been mandated to organise interested target groups into small societies of 10 and 15 members.

According to the Supervising Manager of the Bank, Mr Jacob Wellington Assan who disclosed this at the opening of a new revenue mobilisation centre at Agona-Swedru on Monday, the formation of small beneficiary groups would speed up the retrieval of the loans in good time.

Mr Assan said the rural banking concept has reached a stage where much effort must be put into it to enable it to make more useful contributions towards the social and economic development of the rural communities.

Mr Philip Patrick Quartey, Manager of the Agona Swedru mobilisation centre, assured all prospective customers of the bank of better and lasting customer/worker relationship to enhance the general operation of the bank.

Mr Quartey said the bank is aware of the serious economic problems facing the government and individual citizens, and was prepared to inculcate strong savings habit in the people, especially those engaged in small-scale businesses so that they could play their role properly in national development.

To this end, Mr Quartey said, the bank had introduced a new "Susu" credit scheme, which offers loans to contributors after six months of continuous patronage of the scheme, adding that any amount that a contributor would save would be doubled to help him or her expand his business.

He called for hard work and dedication from the workers to ensure the success of the bank's operations as well as the Apex banking system, which has just been introduced into the rural banking practices in the country.

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